According to Gary Gentile in his book Shipwrecks of New Jersey - South, the following three vessels and four known wrecks may be related as suggested here. Or it could be something else entirely.
The "Glory Wreck" is a twisted mass of hull plates and steel spread over a wide area on a sandy bottom. Artifacts are occasionally found: portholes and brass. She is usually a good lobster wreck.
A number of small warships are sunk in New Jersey and New York waters.
subchaser (model)
A subchaser was a small coastal patrol vessel of World War I or II. Subchasers were lightly armed and even more lightly constructed, mostly out of plywood, powered by two diesel (WWII) or three gasoline (WWI) engines. Roughly the same design was used in both wars - 110 ft long, about 100 tons. Almost a thousand were built over both World Wars, and several are lost in the waters around this area. Many private yachts and some larger fishing trawlers were converted to perform this function also, like the Tarantula and the Moonstone. Conversely, some subchasers were converted to other duties after the war, such as the Bronx Queen, pictured below in military trim. Real subchasers were designated SC-, while converted yachts were designated SP-, PY- ( patrol yacht ) or PYc ( patrol yacht - coastal. )